On 22 May 2025, Swedish Private Equity Firm EQT announced the acquisition of Seven Seas Water Group (Seven Seas) from Morgan Stanley Infrastructure Partners. The deal is reportedly valued at over US$1 billion, including debt. EQT has been a leading investor in the water sector since 2017, with other major investments including Innovyze, Saur, and AMCS.
Headquartered in Tampa, FL and Houston TX, Seven Seas builds, owns, and operates wastewater treatment, desalination, and reuse plants across the U.S., Caribbean, and Latin America, with over 220 plants currently under management in 2025.
Previously owned by AquaVenture from 2016–2019 as a publicly traded company, Seven Seas reported a 17% compound annual growth rate (CAGR) and an average 50% EBIDTA Margin. Morgan Stanley Infrastructure Partners then acquired Seven Seas in 2020 in a carve out. Under Morgan Stanley, Seven Seas’ desalination water capacity and total treatment plants had a 14% average CAGR from 2019–2025.
